Nippon Steel and US Steel sue Biden administration over blocked $15 billion deal
Monday, 6 January 2025 Nippon Steel and US Steel have sued the Biden administration for blocking their $15 billion merger, claiming the decision was politically motivated and violated their rights. President Biden cited national security concerns as the reason for the block, emphasizing the importance of a strong domestic steel industry.
In a significant move announced today, President Joe Biden has formally blocked Japan's Nippon Steel from acquiring US Steel in a deal valued at $15 billion. The transaction, initially proposed in December 2023, faced stringent scrutiny over potential national security risks, with the...
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Monday, 6 January 2025
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